Could this rid of us of the paper "fire wall" between Goldman & LTCM? Is this being forced? Would this at least be a "spin off" of LTCM?
<<Monday April 19, 9:54 pm Eastern Time
LTCM buyout viewed by partners, Goldman's Corzine
NEW YORK, April 19 (Reuters) - Jon Corzine, the co-chairman of Goldman Sachs & Co. who will quit the investment bank next month, has found a new challenge -- trying to raise billions of dollars to buy out the owners of hedge fund Long-Term Capital Management.
Corzine, a former star bond trader, has linked up with Long-Term's founding partner John Meriwether and other original partners of the hedge fund to look for ways to buy out the consortium of banks that own the fund, a person familiar with the situation said on Monday.
The attempt, which the source described as preliminary, was first reported in the April 20 edition of the Financial Times, a British business daily.
Spokesmen for the fund and the bank consortium were not immediately available to comment.
Long-Term Capital, of Greenwich, Conn., almost went bust after losing billions of dollars during the market turmoil of last fall, despite boasting two Nobel laureates on its roster of partners....>>
biz.yahoo.com
One more question, Why did Corzine quit and did he quit or "quit"? |
